TEMPE, Ariz. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of a post-acute care retirement campus located in Tempe. The acquisition includes Tempe Post Acute, a 62-bed skilled nursing facility, and Desert Marigold Senior Living of Tempe, a senior living center with 72 assisted living beds and 90 independent living units. These acquisitions bring Ensign’s growing portfolio to 226 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns the real estate at 92 healthcare operations. Blueprint Healthcare Real …
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WASHINGTON, D.C. — Love Funding has provided more than $97.3 million in HUD financings in second-quarter 2020. All the loans feature long-term, non-recourse, fixed-rate debt solutions. D.C.-based Love Funding’s parent company, Midland States Bank, was able to complete short-term bridge loans to secure funding. In the first transaction, Love Funding arranged financing for the $3.1 million acquisition of Egida Hogar San Antonio, a property located in Guayama, Puerto Rico. The borrower was able to acquire the Section 8 project and extend the affordability component by entering into a new 20-year …
Trilogy Health Services Hires Kathy Franke as Executive Director of Cooper Trail Senior Living in Kentucky
by Jeff Shaw
BARDSTOWN, Ky. — Trilogy Health Services has hired Kathy Franke as executive director of Cooper Trail Senior Living in Bardstown, about 40 miles southeast of Louisville. Franke was born and raised in Bardstown with over 30 years of experience in senior care.
NORTH STRABANE TOWNSHIP, Pa. — HJ Sims has arranged $29.3 million in financing for the development of Encore on the Lake, an 80-unit independent living community in North Strabane Township, approximately 20 miles southwest of Pittsburgh. Presbyterian Senior Care (PSC) is developing the four-story community, which will target middle-income residents. Companies involved in the project include Senior Housing Partners, a subsidiary of Presbyterian Homes & Services. For this financing, Sims identified commercial bank financing as the preferred option for the majority or the financing. The main lender is First National Bank …
Berkadia Provides $50M in HUD Financing for Skilled Nursing Facilities in Florida, California, Maryland
by Jeff Shaw
WASHINGTON, D.C. — Berkadia’s Seniors Housing & Healthcare Group has secured $50 million in loan closings for skilled nursing facilities in Florida, California and Maryland. Jay Healy and Senior Director Bianca Andujo secured a $22.2 million HUD refinancing for a 157-bed skilled nursing facility in Worchester County, Maryland. The loan represents an 80 percent loan-to-value ratio and carries a term of 35 years. Loan proceeds were used to pay off the existing debt. Healy and Andujo also secured an $11.8 million HUD loan for a California-based borrower. The loan, which …
Anthem Memory Care Appoints Caitlin Terrell as Executive Director for Community in Glenview, Illinois
by Jeff Shaw
GLENVIEW, Ill. — Anthem Memory Care has named Caitlin Terrell as executive director of Emerald Place, a community in Glenview, approximately 18 miles northwest of Chicago. Terrell previously was executive director of Jacob Healthcare Center in San Diego, California. A Certified Dementia Practitioner and Licensed Clinical Social Worker, she has also served as the social services director and regional consultant in skilled nursing and post-acute settings. Terrell earned a master’s degree in social work from Loyola University of Chicago and a bachelor’s degree in social work from the University of …
Seniors housing operators have responded to the COVID-19 pandemic through a variety of changed procedures, such as increased infection protocols, limited visitations and meal deliveries. Now, the next step is to make sure those procedures are sustainable for the long term, as the virus shows no signs of going away in the near future. “I think back to when we were first realizing COVID-19 was really going to affect us. If we all locked down for a few weeks, the curve would flatten and we could all go back to …
FLORIDA — Monticello has provided $20.2 million in first lien debt financing for the refinancing of two assisted living and memory care facilities totaling 171 beds in Florida. The borrower is an experienced owner and operator with a current portfolio of 1,325 licensed beds. Further details on the transaction were not disclosed.
SCOTTSDALE, Ariz. — Cadence Living, a Scottsdale-based owner-operator, has hired Julie Bagg as vice president of operations for the West region. Bagg is based in California and will have principal responsibility for the operations of Cadence’s portfolio on the West Coast. She has over 11 years of experience in operations, sales and marketing in the senior living industry. Prior to joining Cadence, Bagg held regional operations and executive director roles with Westmont Living and Atria Senior Living in California. In conjunction with the hiring, Treva Whalen was promoted to vice …
BALTIMORE — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 126-bed assisted living and skilled nursing community in suburban Baltimore. Acts Retirement-Life Community sold the asset, as it did not fit the nonprofit owner-operator’s usual business model of continuing care retirement communities. An undisclosed buyer paid $20 million for the property.